Baili Tianheng's R&D investment in 2023 will increase by 99% year-on-year
Release time:
2024-04-27 09:44
Source:
On April 26, Baili Tianheng announced its 2023 performance, achieving operating income of RMB 562 million, a decrease of 20.11% from the same period last year. Net profit attributable to the listed company was RMB -780 million, a year-on-year decrease of 176.40%. The main reason was that during the reporting period, the Phase III clinical trial was carried out, and preclinical research and clinical trial research continued to be invested. With the continuous advancement of R&D progress, R&D investment increased, resulting in the company's R&D expenses continuing to grow.
In 2023, Baili Tianheng's R&D expenses increased by 98.98% to 746 million yuan compared with the same period last year, mainly due to the increase in R&D testing and inspection fees, employee salaries and intellectual property costs.
At the same time, Baili Tianheng also announced its 2024Q1 results, with operating income increasing by 4325.45% year-on-year to 5.462 billion yuan, mainly due to the advance payment received from BMS during the reporting period .
In December 2023, Baili Tianheng and BMS reached an exclusive licensing and cooperation agreement for the bispecific ADC BL-B01D1 , with a potential total transaction value of US$8.4 billion.
Currently in China, BL-B01D1 monotherapy for the treatment of end-line nasopharyngeal carcinoma and second-line esophageal squamous cell carcinoma has entered the Phase III study stage and the first patient has been enrolled. It has entered the Phase III clinical study stage for the treatment of EGFR wild-type non-small cell lung cancer, EGFRmut non-small cell lung cancer, HR+HER2- breast cancer, and triple-negative breast cancer. The treatment of small cell lung cancer is advancing to Phase III clinical research.
In the United States, the Phase I clinical trial of BL-B01D1 for the treatment of non-small cell lung cancer was approved by the FDA in July 2023 and is currently enrolling patients.
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